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XERO LIMITED

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Xero : 15/09/2020 - Xero unveils next gen practice, the new experience of accounting and bookkeeping in the cloud

10/07/2020 | 02:10am EDT

MEDIA RELEASE

Xero unveils next gen practice, the new experience of accounting and

bookkeeping in the cloud

Xero HQ will transform into a CRM tool to help accountants and bookkeepers create a

unified client experience

Seamless billable workflows will change the way practices onboard, manage and grow

their clients

Wellington - September 15, 2020 - Xero ,the global small business platform, today unveiled its Next Gen Practice vision, a unified experience across the tools accountants and bookkeepers use every day to onboard, collaborate and manage client work in the cloud.

Unveiled at Xero On Air,a free to watch series being aired by Xero this week, the next gen practice vision reimagines and simplifies practice management by unifying everything accountants and bookkeepers need to manage their clients, collaborate effectively, and connect to the best practice apps - from Xero HQ to Xero Practice Manager, Xero Tax and Xero Workpapers.

The vision offers the next evolution of cloud accounting, from the single accounting ledger to a unified back-end experience, built on five fundamental principles: connected services linking data and tools; high-integrity data to automate and streamline work; seamless end-to-end billable workflows; access to real-time insights; and a platform to broaden expertise and grow the practice.

"We've spoken with hundreds of accountants and bookkeepers from around the world to understand what they see as the future of their practice and the tools they need to get there," said Anna Curzon, Chief Product Officer at Xero.

"Resoundingly, they told us they want a platform that's seamlessly connected to the apps they use every day, provides a unified experience and single source of truth for all of their client work, and helps them become more efficient and productive with their colleagues and clients. The next gen practice vision lays the foundation for providing accounting practices of all sizes the tools they need to help small businesses at a time when high-value advice is more important than ever."

The future of practice tools in sight

Xero HQ will transform over time into a powerful, purpose-built Customer Relationship Management system for accountants and bookkeepers that collects and integrates all relevant client information in one place. It will provide a single source of client data, making it easier to find information - such as a client's contact details, financial data, payroll, tax information and documents - and get client work done.

Xero HQ will ensure information entered about a client in one tool, such as Xero Practice Manager, is automatically synced to others, eliminating double-handling and ensuring information is consistent.

Xero's next gen practice vision brings together all the tools a practice needs through a single interface, removing the need for multiple logins. Practice users will only need to sign into Xero once and quickly access all of their tools, client information, documents and time-tracking in one place.

For accountants who use Xero Practice Manager, the tool will continue to be a core part of the practice vision, with better ways to manage custom reports, a refreshed job manager dashboard coming soon, and API improvements that improve the security, reliability and user experience for accountants.

And for those relying on external tools like spreadsheets for client workpapers, data will flow directly between the Xero ledger, spreadsheets and Xero Workpapers. Xero is working closely with some of its app ecosystem partners, to bring additional value and choice, to the next gen practice experience. FYI is one of these partners, making document capture and management a seamless part of the Xero HQ platform.

Practice features get an upgrade today

Xero is making it easier for accountants and bookkeepers to grow their practice, better understanding their opportunities to grow existing billables, and win new clients. As part of the next gen practice vision, Xero is releasing new features sooner to make practice workflows simple, seamless and smart. They include:

  • Win new clients:​​As​ the number of new small business registrations begin to rise again globally, Xero now intelligently matches those who need an advisor with the right person, at the right practice, based on their skills and sector specialty through the Advisor Directory
  • Onboard quickly: Customise​ chart of accounts templates to help set up new leads efficiently
  • Ask and sign in a snap: Ask​ clients to review and sign multiple documents, from engagement letters to proposals, with document packs and Xero Sign, powered by Adobe Sign, with an early access available globally in Xero HQ soon
  • See a single clientinXero HQ:​See all clients in one place; sort, filter and export client information, and see an overview of key details in a quick overview
  • Automatic data synchronisation: Automatically​synchronise new client data between Xero HQ and Xero Practice Manager

Close community feedback and collaboration on the future of the accounting & bookkeeping practice

Xero is working to bring new features that align with the next generation practice vision into the tools that accountants use today. Those who join next generation practice Insiders may get opportunities to access the newest features on the platform, including global access to Document Packs, allowing them to provide feedback and help build the future of practice management software with Xero.

Those interested in contributing to the next generation practice vision can see more here .

ENDS

Media Contact

Xero

Abby Hempfling +61 450 769 337 abby.hempfling@xero.com

About Xero

Xerois a cloud-based accounting software platform for small businesses with 2.38 million subscribers globally. Through Xero, small business owners and their advisors have access to real-time financial data any time, anywhere and on any device. Xero offers an ecosystem of over 800 third-party apps and 200 plus connections to banks and other financial partners. In 2020, Xero was included in the Bloomberg Gender-Equality Index and recognised by IDC MarketScapeas a leader in its worldwide SaaS and cloud-enabled small business finance and accounting applications vendor assessment.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Xero Limited published this content on 15 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2020 06:09:01 UTC


© Publicnow 2020
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